ch1 - Chapter 1: Labor Economics: Introduction and Overview...

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Jump to first page 1. Labor Economics as a Discipline
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Jump to first page Socioeconomic Issues Gender and race discrimination Legal and illegal immigration Fall in unionization Free trade Quantitative Importance 75% of national income goes to labor. Unique Characteristics Labor is rented and not bought/sold Non-monetary aspects Importance of Labor Economics
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Jump to first page Institutional factors Unions, licensing, minimum wage, discrimination Labor demand is a derived demand Importance of Labor Economics
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Jump to first page 2. The “Old” and the “New”
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Jump to first page Old Approach Change in Labor Economics Highly descriptive and historical. Little economic analysis New Approach Uses applied micro and macro theory
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Jump to first page 3. Economic Perspective
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Jump to first page Labor economics uses theories of choice to explain behavior of labor
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This note was uploaded on 07/08/2011 for the course ECON 308 taught by Professor Said during the Spring '11 term at American University in Cairo.

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ch1 - Chapter 1: Labor Economics: Introduction and Overview...

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